The dilemma for many people approaching retirement is how much money they need to live on. Research shows that most of us overthink what we need for retirement, believing they will spend at least as much as they are paid in wages. The rule of thumb is making plans for pensions and savings to cover … Read more
The GAD rate is the way of calculating how much income to take from a capped drawdown pension pot when the money was invested in income generating funds. Capped Drawdown was scrapped when pension freedom rules came into force from April 6, 2015. Although Capped Drawdown is closed to retirement savers, anyone working under the … Read more
You don’t have to be a full time expat to fall under the tax rules of non resident landlord scheme. Although most people would take non-resident as a landlord living permanently outside the UK, the scheme follows a different logic. Strict rules decide how any income tax on property rental profits is paid, so getting … Read more
IRS stands for Internal Revenue Service and is often known as the agency that collects taxes. But what else do they do? How did they start and what is their role in the taxes you pay. Check out this in-depth guide on the Internal Revenue Service and how they work. History The IRS dates back to … Read more
The Foreign Account Tax Compliance Act or FATCA is essential reading for US expats. The rules are aimed at stamping out tax evasion by American taxpayers who hide money or other assets in unreported offshore accounts. The US Internal Revenue Service (IRS) lists offshore avoidance as one of the ‘dirty dozen’ ways taxpayers try to … Read more
If you watch how you spend your money and try hard to save, there ‘s one trick you may be missing – shareholder perks. Investors do not have to plough wads of money into a company to qualify for extra discounts and exclusive deals. In fact, they may be a lot cheaper than you think. … Read more
A UK consumer watchdog is warning investors to watch out for companies making misleading claims about share tip services online. The warning follows an investigation into a firm trading as Stockmarket Insider. The Advertising Standards Authority (ASA) picked up three complaints from rival investment web site and magazine The Motley Fool. The complaints alleged three … Read more
The government is writing a prescription to cure the pension ills of doctors facing tax problems. High-earning doctors have retired or cut their availability to the National Health Service because their pension growth was outperforming the lifetime allowance (LTA). The LTA is set at £1.055 million – but any pension pot exceeding the allowance faces … Read more
Cryptocurrency pioneers and influences the Winklevoss twins have again made a call for tougher rules to govern the market. The twins introduced stablecoin GeminiUSD and are about to open a new exchange in the US. They have regularly called for better regulation of the sector. “Some have wondered why @Gemini believes the Revolution Needs Rules. … Read more
Working out how much you need to save for retirement is a dilemma especially when you are bombarded with seemingly conflicting advice. Picking the right advice to suit your lifestyle and finances is hard. But here are four retirement saving myths you really should ignore. Life’s cheaper when you stop working That’s the theory, but … Read more